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Tag: Jan Mayen

Millions to exploration near Jan Mayen

The Norwegian Government plans to map, do seismic surveys and other geological data acquisitions outside Jan Mayen and in the Barents Sea in 2013. A total of 17.6 million Euros have been allocated to the project.

Minister of Petroleum and Energy Ola Borten Moe wants to continue surveys in the parts of the Barents Sea that were opened for such activity through the Norwegian-Russian Agreement on delimitation of the Barents Sea and Arctic Ocean that came into force on July 7 2011, according to the Barents Observer.

The proposed area in question is the Norwegian side of the dividing line in the Barents Sea where the Russian and Norwegian borders are. Norway has already conducted seismic acquisition in the southern parts of the new area in the Barents Sea.

The agreement has specific obligations for cooperation in case there are found any cross-border petroleum deposits. If a deposit extends across the delimitation line, the parties shall enter into an agreement for the exploitation of the deposit as one unit.

“Norwegian petroleum industry is doing very well. There is a high level of exploration activity, new large discoveries are being made and developed and a lot of work is done to improve recovery at producing fields”, Minister of Petroleum and Energy Ola Borten Moe says to the Ministry’s web site.

He also added that although initial surveys had been conducted, a long time could pass until production starts.

Source:

Barents Observer

Norwegian Ministry of Energy

October 9, 2012
Three offers for the Dreki Area
Three offers were submitted for search of oil in the Dreki Area. Icelanders are part of them all.

There are high hopes for the Dreki Area and all points to oil being in the Jan Mayen ridge. A part of the area is in Icelandic waters.
The first invitation to bid in the search was three years ago. Two offers were submitted now. Icelanders are happy three offers were submitted midst in the crisis.
The offers are from Eykon, an unregistered company in Iceland. It looks at the project as one for the future. “We have international sponsors with us but we are doing the ground work. These partners are experienced in searching for oil in similar circumstances as in Jan Mayen,” Heiðar Már Guðjónsson from Eykon said.

The next offer is from Faroe Petroleum and Íslenskt Kolvetni ehf. Faroe is a 15 year old company based in Scotland, with a staff of 50. It explores the British, Norwegian and the Faroese waters.

The last one is from Valiant Petroleum og Kolvetni ehf. “Valiant, and Faroe Petroleum, are big companies so this is very positive,” Gunnlaugur Jónsson from Kolvetni ehf. said.

The chief of the National Energy Authority in Iceland was excited about the result. “These are three companies with knowledge in the area. This is a very good result and goes beyond our biggest expectations,” Jóhannesson said.

The minister of energy in Iceland said that the best possible result of the oil search would that very high income would be a reality in Iceland, for a short time, in about 10 years’ time.
The National Energy Authority will answer the bidders before the end of November.

Source
- Channel 2
April 3, 2012
High hopes for Dreki oil

There are high hopes for oil in the Dreki Area, south of Jan Mayen and North of Iceland.

Norway and Iceland are joint owners of the area and could potentially benefit both countries.

New samples are impressive and could increase interest in the area. Although the samples are positive, they are confidential, and will only be given to those who will search in the area.

Specialist from Norway met their colleagues from Iceland last week. These samples were on the agenda, and next explorations which will be conducted soon.

Þórarinn Sveinn Arnarsson, project manager for the Icelandic Energy Administration, told RÚV that further exploration is mostly on the Norwegian side.

“A new exploration will most likely go to the area next summer, but that will also depend on what else we find from the last survey, samples are still being researched,” he said.

A report from the company that conducted the research will be ready next month.

Bidding for the search will then open in April.

Sources

RÚV (Icelandic National Television)

January 16, 2012
Big hope for oil in Dreki Area

New research strengthens the belief that there is oil in the seabed around Jan Mayen.

Jan Mayen is a Norwegian archipelago north of Iceland. The Map shows the EEZ around Jan Mayen, which Norway is entitled to. However, the Dreki Area is also within Iceland’s jurisdiction so the country could benefit if oil is found.

“The samples from the seabed around Jan Mayen is stunning, the oldest bedrocks are 260 million years old. The analysis of the material is surprising,” Sissel Eriksen, exploration director of Norwegian Petroleum Directorate told Geo365.no.

“We had hoped, but not expected, to find so ancient sedimentary rocks around Jan Mayen. The influence of volcanic rocks in the area is less than we previously thought – volcanic rocks generally have no potential for oil and gas. But this means we have rocks that may contain material that forms the oil and gas. Two important prerequisites for potential petroleum deposits are thus met,” says Eriksen.

The expedition was in July this year with agreement with Icelandic authorities. The samples were taken from both the Icelandic and Norwegian side of the Jan Mayen ridge.

Environmental impact assessment will be next in line for the oil research in the Dreki area.

Source: Geo365.on

November 23, 2011
Environmental study in Jan Mayen

Environmental study of proposed oil drilling near Jan Mayen will proceed in the near future, despite strong opposition of environmentalist, according to Reuters.
Jan Mayen is a Norwegian archipelago north of Iceland. The Map shows the EEZ around Jan Mayen, which Norway is entitled to.

Ola Borten Moe, Minister of Petroleum and Energy in Norway, confirmed that formal studies and reports will go ahead.

“An impact assessment of Jan Mayen is … important,” Moe said in a statement. “It will cast light on important aspects of opening up for petroleum activities.”

The length of the study is still unknown but if there are no major environmental or other hurdles, oil companies could be licensed to look for reserves across 100,000 sq km (38,600 square miles) of ocean.

The last time a new area was opened to exploration in Norwegian territorial waters was 1994, the ministry said.

Oil reserves are thought to be in the area, Iceland is also hoping to discover oil in the Dreki area, close to Jan Mayen. Iceland has invited for bids for oil search in the area, the bidding closes in February 2012.

October 21, 2011